An interesting situation is emerging in the crypto market — while declines continue, long-term Bitcoin holders are quietly accumulating. When I saw that 212,000 BTC have been transferred to the LTH category in the last 30 days, I wondered how these funds view the market. While small investors are panic selling, experienced holders are moving in the opposite direction.

The data tells an intriguing story. Bitcoin recently pulled back to around $60,000, but the current price range is approximately $77,000. During this period, LTHs have made significant purchases according to the net position change metric. Normally, this category, which has been in a negative trend since early 2025, has started to return to the market as selling pressure diminishes. This accumulation, valued at over $14 billion, appears to be a clear signal.

Institutional players are also heading in the same direction. Bitcoin ETFs have seen a net inflow of $1.5 billion over the past five trading days. Yesterday alone, a positive flow of $458 million was recorded. The most interesting part is that retail investors have been selling their positions since the October peak at around $126,000, while 17 of the top 25 ETF holders have increased their holdings — the opposite of retail. This divergence shows how much smart money believes in Bitcoin’s future beyond short-term fluctuations. In the past, such LTH accumulations have often preceded major price movements.